State Treasurer's Report
TREASURY DEPARTMENT, STATE OF FLORIDA,
TREASURER'S OFFICE,
TALLAHASSEE, January 1, .1917.
To His Excellency,
Park Tramtincll,
Governor of F'lori,;l :
Sir :
In compliance with law, I have the honor to submit
this, my official report of the transactions of this office
for the period beginning January 1st, 1916, and ending
December ;lst, 1916, both dates 'inclusive.
Included in this report will be found all statements
required by law, with other additional information which
1 hope will be of interest to your Excellency and the
general public. The statements contained herein are full,
complete and accurate.

DEPOSITS IN BANKS.

All funds not actually needed to be retained for the
daily cash transactions of the Department are deposited
in banks under the provisions of Section 132, of the Gen-
eral Statutes of 1906, and in conformity with Section
133, of the General Statutes of 1906. Security for said
deposits are required, bonds in excess of the value of the
deposits being exacted of each bank, thus allowing a mar-
gin for the possible fluctuation in value of bonds, thereby
making these deposits in the various banks of the State
absolutely safe.

The sum of $17,737.30 was received as interest on de-
posit of State funds in banks during the year 1916.
All funds not actually needed to transact the current
daily cash business of the Treasury are promptly de-
posited in banks, so that said funds may begin drawing
interest as soon as possible. It is the policy of the De-
partment to distribute these funds as much as possible in
the various banks throughout the State that place securi-
ties required by law for such deposits, so that all sections
of the State may be treated as impartially as possible.
In pursuance of this policy, the Treasurer has funds now
deposited in more than one hundred banks in all sections
of the State. Each bank having a deposit of State funds
is required to deposit with the Department, as security
for such deposit, bonds of a sufficient amount to make a
safe margin above the deposits, so that each deposit of
funds in a bank shall be absolutely safe.
The only public debt of the State consists of refunding
bonds to the amount of .$601,567.00. These bonds only
draw interest at the rate of 3:% and are held by the Edu-
cational Funds of the State. A complete statement of
these bonds will be found elsewhere in this report.
The following amounts were paid for interest on this
public debt during the year:

Interest on State School Fund.............. 11,045.00
Interest to Agricultural College (University
of Florida Fund) ..................... 4,074.00
Interest to Seminary Fund ................ 2,928.00

Total interest on public debt of State.... 18,047.00

This interest is paid semi-annually, on the first day of
January and July, by warrants of the Comptroller drawn
against the General Revenue Fund under Chapter 5477,
Acts of 1905.

7

STATEMENTS TO GOVERNOR MADE MONTHLY.

In compliance with Chapter 4598, Acts of 1905, state-
ments are made monthly to the Governor by the Treas-
urer, showing the balance in each of the funds for which
he is the custodian; also, showing the character of and
where the money'belonging to each fund is placed.

RECEIPTS AND DISBURSEMENTS.

All payments made into the State Treasury are entered
upon the Treasurer"s books, and the original receipts
handed to the Comptroller for his records. The Comp-
troller thereupon issues receipt for same, which is im-
mediately sent to the person making the remittance. Dis-
bursements from all funds are made strictly in compli-
ance with law.
The Educational Funds of the State possess bonded
securities and catish to the amount of .$1,859,761.66. Prac-
tically all of these funds are invested in bonds of various
town and sub-school districts, none of these bonds draw-
ing interest at less than 4%, the most of them bearing
interest at the rate of 5% and 6%. The cash that is on
hand awaiting investment is drawing interest at the rate
of 4% per annum. The investment of these funds have
enabled numerous towns and sub-school districts to build
suitable structures for the education of the children of
the towns and districts.

INSURANCE DEPARTMENT.
GENERAL REMARKS.

This branch of the Department is one of the most im-
portant of our State Government and is also among the
largest revenue producing of the State. During the past

8

year the Insurance Department turned into 'the State
Treasury the sum of $231,109.82, derived from the follow-
ing sources: Licenses of insurance companies, $31,500.00;
licenses from insurance agents, $35,067.50; 2 per cent tax
on gross premium receipts of insurance companies oper-
ating in this State, $162,557.32; fees from insurance com-
panies for filing annual statements, $1,985.00. The total
expense of conducting the insurance branch of the Treas-
urer's Office is about $5,500.00, leaving a net revenue to
the State from this source of-over .-'22.,'i,1.imii.
This Department is pretty well equipped now as to help
and also legislation. The Department is in need of addi-
tional appropriation for incidental expenses. There are
a number of matters that come up that should be investi-
gated which require the presence of someone from the De-
partment to visit the locality. The appropriation avail-
able now is not sufficient to do this. I hope the members
of the Legislature will recognize the importance of this-
coupled with the large amount of revenue received from
this source and the unusually small amount expended by
this Department as compared with that of any other in-
surance department of which I have any knowledge, and.
grant the small additional amount asked for, which will
greatly increase the efficiency of the Department.

INSURANCE DEPARTMENT.

ADMISSIONS ANI) WITHDRAWALS.

The following companies were admitted to transact
business in this State during 1916:

The following amounts of insurance taxes were col-
lected through this Department for the State during
1916:
Insurance Company License Taxes. ......$ 31,500.00
Insurance Agents' License Taxes.......... 35,067.50
Insurance Companies' Premium Tax 2%
of the gross premiums collected from
policy-holders in the State of Florida
during the year ....................... 162,557.32

Total taxes received during the year.... .$ 229,124.82
Fees for filing Annual Statements of Insur-
ance Companies, paid to State Treasurer
and turned into the General Revenue Fund 1,985.00

Total receipts from Insurance Companies,
all sources ............ ............. 231,109.82

Adjutant General ....................... 3,000.00
National Guard of Florida................ 20,083.62
National Guard of Florida, Encampment... 11,349.04
National 'Guard of Florida, Maintenance of
Camp Grounds ...................... 1,820.29
National Guard of Florida, Practice Cruise
on U. S. Ship of War.................. 1,915.91
National Guard of Florida, Uniform Allow-
ance ................................. 1470.00
National Guard of Florida, Construction
two Bath Houses and Rifle Range...... 610.70
National Guard of Florida, Painting and
Repairing Buildings and Installing
Heating Plant at State Arsenal....... 1,179.55

Total Interest on Public Debt........ $. 18,047.00
The Public Debt consists solely of refunded bonds
amounting to $601,567.00, bearing interest at the rate
of three per cent per annum, all of which are held by the
Educational Funds of the State.
J. C. LUNING, State Treasurer.

Apr. 30-Receipts during
May 31-Receipts during
June 30-Receipts during
July 31-Receipts during
Aug. 31-Receipts during
Sept. 30-Receipts during
Oct. 31-Receipts during
Nov. 30-Receipts during
Dec. 31-Receipts during

during month...... $
during month......
during month......
during month......
during month......
during month......
during month......
during month .....
during month......
during month......
during month......
during month......

Total Disbursements during year......... $153,101.33
Balance December 31, 1916................ 17,582.62

Paid.
May 8,
May 9,
May 10,
May 10,
May 10,
May 12,
May 13,
May 16,
May 17,,
May 17,
May 17,
May 17,
May 17,
May 17,
May 17,
May 17,
May 17,
May 17,
May 17,
May 17,
May 18,
May 18,
May 18,
May 18,
May 18,
May 18,
May 18,
May 18,
May 18,
May 18,
May 18,
SMay 18,
May 18,
May 18,
May 18,
May 18,

Jan. 31-Receipts during
Feb. 29-Receipts during
Mar. 31-Receipts during
Apr. 30-Receipts during
May 31-Receipts during
June 30-Receipts during
July 31-Receipts during
Aug. 31-Receipts during
Sept. 30-Receipts during
Oct. 31-Receipts during
Nov. 30-Receipts during
Dec. 31-Receipts during